Tax Season Process Overview

At Taxbit, we aim to make the information-reporting process as seamless as possible. This guide outlines the steps to prepare data, review eligibility, generate and deliver forms, approve filings, and manage corrections in the Taxbit Dashboard.

Below are the steps required to complete your tax season –

Filer Set-Up

Create a filer via the Settings page of the Taxbit Dashboard for each legal entity with a filing requirement. Ensure address and contact information are up-to-date and accurate.

Before generating forms or approving a filing, verify that the filer’s legal name, TIN, address, and contact information are complete and accurate. For more information, please refer to the following guides:

Data Ingestion

Provide the required Account and Account Owner information, including names, addresses, tax residency, and TINs. Then provide Transactions and/or Form Data for each account and form type.

You can provide data through CSV/JSON ingestion in the Dashboard or through an API integration.

For eligible updates to existing Account or Account Owner records, you may also be able to edit information directly in the Dashboard.

After an upload, review any summary or validation reports and resolve invalid or incomplete rows before continuing. Some Dashboard calculations run as asynchronous jobs, so updated results may not appear immediately. You can monitor processing under Active Jobs and Notifications.

For more information, please refer to the following guides:

Data Reconciliation

After your data has been ingested, reconcile the information in Taxbit against your expected population and amounts.

Use the Data Reconciliation guidance and the Reconciliation Reports to review. Depending on your workflow, compare account counts, transaction counts, form-data counts, totals, amounts, and other expected populations.

Resolve discrepancies before continuing by correcting the source data, re-ingesting it, and repeating the reconciliation review.

Review Eligibility & QA

On the Eligibility Page, select the applicable form type and tax year. Review the eligible population, data-validation results, and any accounts that need to be added to or removed from scope.

Before generating forms:

Review the Incomplete Account Data count and filter the table to Data Validation: Incomplete.
Export the Data Validation Report and review the issue details.
Correct the source data and re-ingest it through the appropriate workflow.
Wait for the updated eligibility and validation results to finish processing. You can monitor asynchronous work under Active Jobs and retrieve completed reports from Notifications.
Download a QA Package to review draft forms and the associated CSV data.

Only proceed when the population, data-validation results, and draft forms match your expectations.

Generate & Deliver Forms

After completing reconciliation, generate forms from the Eligibility page for the selected form type and tax year.

You can generate forms for:

The full eligible population.
A filtered population shown in the Eligibility table.

Forms are generated only for eligible accounts with complete data. After starting generation, monitor the job under Active Jobs. When the job is complete, review the forms on the Forms Page.

Depending on your configuration and contracted services, forms may be delivered by:

Downloading them from the Dashboard
API delivery
S3 delivery
Physical mailing for supported tax years and forms.

For more information, please refer to the following guides:

5a. Physical Mailing

For TY2025 and later, a Tax Manager can submit physical mailing requests directly from the Forms page. You can submit mailing for the full population, a filtered population, or selected forms. See How to Submit a Physical Mailing for the steps.

Please note: A physical-mail preference records the recipient’s stated preference; it does not submit a mailing request automatically. Use the Forms page to review the applicable forms and initiate the mailing request.

Mailing requests are fulfilled by a third-party print-and-mail vendor. Mailed forms are generally postmarked within four business days after submission, including one business day for Taxbit processing and three business days for vendor handling. Taxbit will communicate the applicable submission deadline for each tax season. Requests submitted after that deadline may still be mailed, but timely postmarking is not guaranteed.

After submitting a request, review the Mailing Request Report in Notifications and the Mailing Status Report on the Reports page.

For additional details, please refer to the following guides:

Approve Filing

When the forms have been reviewed, open the Filing Page under Information Reporting:

Select the applicable tax year.
Expand the relevant form type or jurisdiction with a Needs Approval status.
Review the filing counts and details.
Select Approve Filing and confirm the approval.

For US Information Reporting, approval authorizes Taxbit to submit the federal filing and applicable state filings. For MRDP filings, approval generates the XML and CSV files for review; the organization is responsible for submitting those files to the applicable jurisdictions unless direct filing services have been arranged with Taxbit.

For more information, please refer to the following guide: How to Approve Forms for Filing

Our platform has been designed to handle any necessary Revisions & Corrections. Simply ingest the new/updated data and repeat the same steps above to process any Correction or Void forms.

See below for additional tax season resources –